Charter Hall receives $148 million CHOT Performance Fee & Earnings Guidance Update

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Charter Hall Group (ASX:CHC) announces that it has received the Charter Hall Office Trust (CHOT) performance fee. The final performance fee amount of $148 million was received yesterday.

Following receipt of the funds, Charter Hall now has available balance sheet liquidity of $350 million and gearing of 2.8%. The Group’s weighted average debt maturity is 6.3 years.

Managing Director and Group CEO David Harrison said:

“The payment of the CHOT performance fee reflects the successful investment outcome that CHOT fund investors have experienced and Charter Hall’s ability to secure investment opportunities.”

Based on information currently available, particularly in relation to COVID-19, Charter Hall also re-affirms its FY20 earnings guidance of post-tax operating earnings per security (OEPS) growth of approximately 40% over FY19.

FY20 guidance includes $98 million of the $148 million CHOT performance fee received yesterday, noting $50 million of this was recognised in FY19 earnings.

When the impact of the CHOT performance fee is removed from both FY19 and FY20 earnings, the FY20 guidance implies post-tax operating earnings per security growth of approximately 30% over FY19.

Announcement authorised by the Board

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